I am filling in my Tax Compliance form, and the jargon relating the the Active/Passive NFE is a little confusing.
Am I right in my interpretation that unless more than 50% of the companies income is from passive sources (i.e. investment interests etc) then the company is an Active NFE?
I run a small webdesign and support company, thus would this be classed as active? My opinion through what I have read is yes, but I just wanted to clarify.
Thank you in advance
I appreciate it’s been a while since you’ve posted this, and you may have since resolved it. However, I didn’t want to let your post sit here unanswered.
We’re not able to help with issues such as this unfortunately, but here’s a few pointers that will hopefully point you in the right direction:
- Ask your accountant (if you have one)
- Request assistance from a panel of accountants via QuickFile (click the ‘Need help with your accounting?’ option in the top right corner of your dashboard)
- Post on a more accounting orientated forum, such as UK Business Forum (Accounts Section)
Hope that helps!